Aug 22, 2019

Import of vehicles reduced due to increased taxes

Expenditure on private vehicles imported to Sri Lanka has declined by 60.1% from January to June, the Central Bank said.

In June 2019, the total expenditure on private vehicles imported was $ 48.1 million.

This is a 67.2% drop compared to $ 146.8 million in June 2018.

The report issued by the Central Bank states that this shows the impact of increase of Production Tax in March 2019 on import of Hybrid and electronic vehicles and vehicles with less than 1000 cylinder capacity.